Reuters

Gold sank to a one-year low on Thursday as the dollar powered higher after comments from Federal Chairman Powell reaffirmed expectations for more rate rises.

Oil prices fell on Thursday after official data showed an unexpected rise in U.S. crude stockpiles, U.S. output hit a record high and major oil exporters increased production.

The dollar stayed strong but metal markets buckled badly on Thursday, as signs that China was resorting to credit-fueled stimulus again.

A rally in European stocks fizzled out on Thursday as poor results drove down advertising agency Publicis and a slide in metals prices dragged on the market.

Oil were mixed as the market struggled to digest signs of strong gasoline demand in the United States.

China’s regulator said it will use “counter-cyclical” measures to respond to short-term volatility.

The premium investors demand to hold Germany’s long-dated bonds over benchmark 10-year debt was at its lowest level in over five weeks.

The euro fell and the yen slid to a six-month low on Wednesday as the dollar extended its rally following bullish comments from U.S. Federal Chair Powell.

The U.S.-driven trade war has become the biggest “confidence killer” for the global economy, China’s foreign ministry warned on Wednesday.

European shares rose on Tuesday in a choppy session, as stocks were buoyed by upbeat comments in Federal Reserve Chairman Jerome Powell’s testimony.